about chinese real estate

[Randy W]

I am amazed at how I just have to keep on learning about China and it's ways.0„2  My wife and I were talking about our home in China recently, and she said "you know that we can only own it for 70 years don't you?"0„2 

 

I have always been proud of the fact that we own a fully paid for home with no yearly property taxes.0„2  Now I find out that the ownership expires in 70 years.0„2 It looks like you, or whoever you sell it to can only live there/own it for 70 years.0„2 If you own it for 30 years and sell it, then you are selling the remainder of the 70 year period-in this example-40 years.0„2 

 

Sure does add another dimension to the situation.

120485[/snapback]

 

 

This is called a lease

 

I kind of suspect that a lot of Chinese people mean this when they say "own"

Edited August 4, 2005 by Randy W (see edit history)

[Dan R]

This is lease hold which I explained earlier. It is similar to what Hawaii had for decades. In China the government owns most land. That doesn't stop real estate from appreciating where there is demand.